Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Gilead Sciences, Inc. by 7.1% in Q1, owning over 1.6 million shares valued at approximately $182 million.
• Gilead's recent financial results reported earnings per share of $2.01, surpassing analysts' expectations, with revenues of $7.08 billion for the quarter.
• Insiders at Gilead Sciences have sold a total of 82,000 shares worth nearly $9 million over the last 90 days, which has decreased their ownership in the company.

National Bank of Canada FI increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,626,250 shares of the biopharmaceutical company's stock after acquiring an additional 107,964 shares during the quarter. National Bank of Canada FI owned approximately 0.13% of Gilead Sciences worth $182,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after buying an additional 2,450 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Gilead Sciences in the 4th quarter worth approximately $523,000. Rathbones Group PLC grew its stake in shares of Gilead Sciences by 3.8% in the 4th quarter. Rathbones Group PLC now owns 3,395 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 125 shares during the last quarter. Bessemer Group Inc. boosted its stake in Gilead Sciences by 10.9% during the 4th quarter. Bessemer Group Inc. now owns 97,167 shares of the biopharmaceutical company's stock valued at $8,974,000 after purchasing an additional 9,573 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in Gilead Sciences by 9.5% during the 4th quarter. Scotia Capital Inc. now owns 162,749 shares of the biopharmaceutical company's stock valued at $15,033,000 after purchasing an additional 14,125 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 0.7%

Shares of NASDAQ:GILD traded down $0.84 during midday trading on Tuesday, hitting $119.63. 2,659,540 shares of the stock were exchanged, compared to its average volume of 8,382,350. The business's 50-day moving average price is $111.16 and its 200 day moving average price is $107.83. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The stock has a market capitalization of $148.44 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 0.75 and a beta of 0.33. Gilead Sciences, Inc. has a 12 month low of $72.67 and a 12 month high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.01 EPS. Analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is presently 62.95%.

Wall Street Analyst Weigh In

Several analysts have commented on GILD shares. Morgan Stanley increased their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and raised their price target for the stock from $108.00 to $127.00 in a research note on Friday. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. UBS Group raised their price target on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Oppenheimer decreased their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Insiders Place Their Bets

In related news, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the transaction, the director directly owned 8,920 shares in the company, valued at $978,880.80. The trade was a 35.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $333,090.00. Following the sale, the insider owned 117,168 shares of the company's stock, valued at approximately $13,009,163.04. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock worth $8,984,175 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.